VIP Clothing Ltd approves rights issue

The Board of Directors of VIP Clothing Ltd at its meeting held today from 4:30 PM to 5:50 PM have approved the proposal for raising of funds by way of issue of equity shares to the existing shareholders of the Company on a rights basis (Rights Issue) upto Rs. 50 crores, subject to all approvals.

The terms and conditions of the Rights Issue including the rights entitlement ratio, the issue price, issue size, record date, timing of the issue and other matter shall be decided in consultation with the lead manager to the rights issue.

Shares of VIP Clothing Ltd. was last trading in BSE at Rs.56.65 as compared to the previous close of Rs. 54.3. The total number of shares traded during the day was 66374 in over 617 trades.

The stock hit an intraday high of Rs. 59.4 and intraday low of 55.3. The net turnover during the day was Rs. 3808084.

Source : Equity Bulls

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